U.S Economic Data and FED Chair Powell Put the Dollar in the Spotlight

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Earlier in the Day:

It was a relatively busy start to the day on the economic calendar this morning. The Japanese Yen and the Aussie Dollar were in action this morning.

For the Japanese Yen

Inflation figures drew attention early this morning.

In August, Tokyo consumer prices remained unchanged, year-on-year, after having been down 0.5% in July. Economists forecast for prices to fall by 0.2%.

According to the Ministry of Internal Affairs and Communication,

  • Prices for transportation & communication were down 9%.

  • There were also declines in prices for fuel, light, & water charges (-0.8%) and medical care (-0.2%).

  • Prices for culture & recreation and prices for furniture & household utensils rose by 4.7% and by 4.4% respectively.

  • There were also price increases for education (+2.1%), clothes & footwear (+0.9%), and housing (+0.5%).

  • Under miscellaneous, prices rose by 1.2% year-on-year.

The Japanese Yen moved from ¥ 110.050 to ¥110.057 upon release of the figures….

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